Iran’s central bank now requires all local cryptocurrency exchanges to operate only between 10 a.m. and 8 p.m. This policy shift follows a $100 million hack of Nobitex, which is considered a vital trading hub in Iran’s ecosystem. This attack was perpetrated by a hacker organization known as Gonjeshke Darande, which supported Israel. The organization hacked the exchange’s internal systems and emptied large cryptocurrencies such as Bitcoin, Ether, Dogecoin, XRP, and Solana, among others.
Blockchain analysis firm Chainalysis reported the funds were sent to wallet addresses designed to be inaccessible, effectively destroying the assets and removing them from circulation. Andrew Fierman, head of national security intelligence at Chainalysis, told Cointelegraph the curfew is likely intended to help Iran monitor and respond to potential future attacks more efficiently.
This is not the first time Iran has imposed strict rules on its crypto sector. In December, the central bank temporarily closed all exchanges to prevent further depreciation of the Iranian Rial. The latest move highlights government concerns over capital flight, cross-border payments, and the potential for digital assets to bypass sanctions.
